How Covid-19 is shaping the shopper mindset
Somehow we’ve reached July and the world continues to feel upside down. For many brands who thought they just had to tough out a short period of change due to Covid-19, the ‘return to normal’ now appears farther on the horizon.
This report explores how Americans have shifted their approaches to spending in 2020 and to what degree they expect things to (eventually) return to ‘normal’. Here is a snapshot of our key findings:
- Covid-19 has made most American consumers cautious and risk averse—54% say they are sticking to the brands they usually buy from during this time and just as many say they are being more thrifty.
- The ‘consideration’ phase of the purchase funnel has been lengthened due to Covid-19—54% say they are taking more time to consider what they buy.
- Half of Americans are trying to buy more from local (48%) and small businesses (46%), a pattern that they intend to keep up post-corona.
- Over 3 in 5 Americans say they’ll want to treat themselves after Covid-19.
- Eating out and traveling top the list of what Americans have missed most during social distancing, suggesting these areas will enjoy a celebratory boost in ‘treat yourself’ spending when things return to ‘normal.’
This report reflects the online survey responses of 2,000 nationally representative US adults between June 19th and 24th. You can download the full report here:
